Dearborn Heights, Michigan Entrepreneur Gets a Business Loan

Looking to get a Michigan SBA loan? This Michigan entrepreneur got an SBA loan, provided by a Texas bank that works with the SBA to help small business owners.

This small business, based in Dearborn Heights, Michigan, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Jpmorgan Chase Bank. We've got the inside scoop on this Michigan small business loan.

SBA Loan Borrower

COMPANY TYPE: DRUGS AND DRUGGISTS' SUNDRIES MERCHANT WHOLESALERS
DEARBORN HEIGHTS, MI 48127

SBA Loan Lender

JPMORGAN CHASE BANK
811 RUSK ST., 16TH FL
HOUSTON, TX 77002

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

424210 - Drugs and Druggists' Sundries Merchant Wholesalers

Loan Approval Date

11/13/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 9 employees. The loan application indicated that the loan would help generate 1 new job and retain 9 existing jobs.

Getting an SBA Loan For Your Business

If you want money for new small business in Dearborn Heights MI, you ought to talk with a local Dearborn Heights SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Dearborn Heights businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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